Home Highlights April 2012 Year 2012 This

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1. Master Direction – External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised...

2. Valuation - inclusion of after sale service charges, reimbursed by the appellants to their dealers - It is beyond imagination as to how these amounts constitute flow of...

3. Nature of activity - manufacture or service - Activity amounting to manufacture or not - crushing of lumps - Transformation processes - Transformation of goods in new...

4. International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for exports proceeds - RBI grants permission to open an additional special...

5. Recovery of the alleged outstanding dues - Creation of charge over the land - The very action on the part of the department in creating a charge over the agricultural...

6. Service tax liability - the target incentives received by the authorized dealer cannot be subjected to service tax under the category of "BAS" - AT

7. Validity of reassessment order - Input tax credit on purchases from three dealers - a bonafide purchaser cannot be put at jeopardy, when he has done all that the law...

8. Levy of penalty u/r 25 of CER - Penalty on Registered Dealers, Unregistered Dealers and Transporters - Availment of fraudulent credit - issuance of Cenvatable invoices...

9. The activity of private placement of shares which have not been listed in any recognized stock exchange - The activity comes under the category of Merchant Banking activity - AT

10. Suspension of license of public bonded warehouse - bonded goods were stored in non-bonded tanks - appellants pleaded that the disputed goods cannot be confiscated, when...

11. Exemption u/s 11 and 12 - religious activities - violation of Section 13(1)(c) - the activities undertaken by the assessee can be included in the broad conspectus of...

12. Dishonor of Cheque - drawer of the cheque versus authorised signatory - One can easily visualise the object of Section 138 of the Negotiable Instruments Act, 1881, will...

13. Authorized service station - authorised dealers of General Motors - also undertook the servicing of vehicles manufactured by the other manufacturers – services provided...

14. Valuation - inclusion of advertisement and publicity expenses incurred by the dealers as per the terms and conditions of the dealership agreement mutually agreed between...

15. SVLDRS - unfair classification of the case of the petitioner under “litigation” category, instead of “arrears” category - Once a case travels from the category of show...